1. Field of the invention
The present invention provides an improved cash register and method of accounting for cash transactions.
2. Description of the related art
Many businesses, especially those selling consumer goods, use cash registers, operated by cashiers, to facilitate purchases of goods or services by purchasers using currency, checks or transaction cards. Cash registers generally have a cash drawer that slides out at the appropriate time in the transaction to reveal a plurality of compartments, where each compartment is designed to accommodate one stack of bills of a common denomination. For example, there may be a compartment for $20 bills located next to a compartment for $10 bills which is, in turn, located next to a compartment for $5 bills which is, in turn, located next to a compartment for $1 bills. Coins are usually stored in a generally parallel set of coin compartments. Bills are manually placed in, or manually retrieved from, these compartments in the cash register as necessary to complete a transaction with a purchaser.
A modern cash register will also have many of the elements of a computer, including a microprocessor, for performing calculations such as adding the cost of individual items, calculating tax, discounts, coupon credits and, ultimately, the amount of change due to the purchaser. A keypad on the cash register may be used by the cashier to enter the costs of individual items and to determine the total amount owed by the purchaser for goods or services purchased. Alternatively, a bar code scanner may be used as a means for inputting the identification and cost of items to the computer. The total is displayed on a message display and bills and coins are tendered in payment by the purchaser. The amount of currency tendered by the purchaser is entered into the cash register by the cashier using the keypad. The cash register then calculates the difference between the amount of currency tendered by the purchaser and the total cost of the goods or services. The amount of change due to the purchaser is displayed on the message display, the cash drawer is opened, and the cashier manually removes the right combination of bills and coins from the cash drawer as necessary to make change to the purchaser in the amount displayed.
The cash register""s computer generally records information for each transaction made using the cash register during a controllable time period. This recorded transaction data is used to determine total cash receipts for each cashier""s shift for reconciling net receipts during that shift on that cash register. Businesses operating large numbers of cash registers, such as grocery stores, discount stores or department stores, generally observe very stringent security measures and safeguards to deter and prevent theft of cash. When a cashier""s shift changes, the cash drawer is typically removed from the cash register and taken to a secure location so that the cash in the drawer can be counted and reconciled with the transaction data. This procedure requires that a new cash drawer be prepared in advance and placed in the cash register for use by the next cashier.
There are also systems that automatically dispense coins from a cash register without the necessity of having the cashier manually remove coins to make change to the purchaser. These systems dispense a combination of coins to make proper change to the purchaser along with the bills manually provided by the cashier.
One problem with existing methods of operating cash registers is that the methods rely heavily on the performance of cashiers who are, even with experience and training, prone to error, especially when tired or distracted. Substantial resources of time and personnel are expended on managing cashier shift changes, and on reconciling cash drawers with recorded transaction data. Another problem with existing methods is that, in most stores, a cash drawer opens to the cashier and to all others in the area of a cash register, and every transaction provides a tempting opportunity for theft. In addition, the fact that cash can be easily accessed by a cashier increases the likelihood that a criminal may force a cashier to access and surrender the cash. Violence against cashiers is a major concern, especially in convenience stores late at night.
Another problem with existing methods of operating a cash register is that information pertaining to cash transactions cannot be recorded and communicated to others without great inconvenience. For example, a purchaser must generally request, obtain and save a printed receipt, and then later retrieve the receipt and record transaction information in a written or computerized database that is usually located at the purchaser""s residence or business. If the purchaser successfully obtains, receives and later retrieves the receipt, information pertaining to the amount and the nature of the goods purchased must be manually entered into the database for the information to be of much use or benefit. All of this takes a great amount of time and organization, thereby discouraging many purchasers from even attempting to track cash transactions.
Credit card, debit card and electronically funded transactions are more easily captured and transmitted in electronic form. Generally, credit card statements or bank account statements provide at least some transaction information, and this information is often available for downloading from the Internet into an accounting database by the purchaser. Some businesses issue optically scanable membership cards (e.g. having bar codes) that enable the computer to identify and track the transactions of each card-holder/purchaser, and this information is used by the business in targeted marketing and consumer incentive programs. In this situation, information regarding cash transactions by the purchaser can be provided to the purchaser through the Internet in a form compatible with preferred accounting software for personal computers so long as the membership card is presented and scanned at the time of the transaction.
What is needed is a cash register that does not require exposing cash in the register to the cashier and to others in the area of the cash register at the time of the transaction. What is needed is a method of accounting for cash transactions that eliminates the necessity for exchanging and reconciling cash drawers upon each cashier shift change. What is needed is a method of operating a cash register that enables automatic real-time reconciliation of each register. What is needed is a method of accounting for cash transactions that reliably provides the business operating the cash register with cash inventory information and the purchaser with budgeting information without lost time for repeated reconciliations of cash balances, re-entrance of data and tracking of receipts.
It would be desirable if the method would be compatible with existing cash registers, computers, servers and modems generally used by businesses. It would also be desirable if the method would be easily integrated to work with existing accounting software, the Internet and existing forms of paper currency. Furthermore, it would be desirable if the method enabled the detection of counterfeit or stolen bills.
The present invention provides a method comprising the steps of optically scanning currency having a serial number, as it is being deposited into a cash register, identifying the serial number for each item of the scanned currency, recording the serial numbers in a database, dispensing currency from the cash register in response to an input command, and updating the database of currency serial numbers to reflect currency deposits into and withdrawals from the cash register. During the scanning of currency, the system is able to identify the denomination of each item of the scanned currency. Preferably, the currency deposited and currency dispensed is associated with a given transaction. The method may also include recording a purchaser identification code in the database in association with each given transaction or recording a product or service identification in the database in association with each transaction. In one embodiment, the method may include transmitting a transaction report to an electronic address associated with the purchaser identification code, for example wherein the transaction report comprises the net amount of currency deposited and the product or service associated with the transaction. Finally, the method may include determining the net cash receipts into the register as currency deposited into the register, less currency dispensed from the cash register, wherein the net cash receipts may then be provided for use in an accounting program.
One aspect of the invention provides a method comprising: maintaining a database representing the denomination of each bill within the cash register; identifying, using a cash register, an amount due to be paid by a purchaser for goods or services; optically scanning a first bill deposited into the cash register; determining the denomination of the first bill received into the cash register; determining an amount of change due to the purchaser; identifying from the database a second bill within the cash register having a denomination appropriate for dispensing as change; dispensing the second bill from the cash register; and updating the database to reflect deposit of the first bill into the register and dispensing of the second bill from the register. It may also be possible to detect counterfeit currency using either the scanned image data or a separate process as described herein. Furthermore, the method may further include automatically providing notification that the cash register should be replenished with one or more bill or coin denomination. In the absence of a desired denomination, the method may include automatically selecting another suitable denomination for use in making change.
The invention further provides a computer program product comprising scanning instructions for optically scanning currency having a serial number as it is being deposited into a cash register, identifying instructions for identifying the serial number for each item of the scanned currency, recording instructions for recording the serial numbers in a database, dispensing instructions for dispensing currency from the cash register in response to an input command, and updating instructions for updating the database of currency serial numbers to reflect currency deposits into and withdrawals from the cash register. Preferably, the computer program product will comprise identifying instructions for identifying the denomination of each item of the scanned currency. In a preferred embodiment, the computer program product further comprises one or more of the following instructions: associating instructions for associating the currency deposited and currency dispensed with a given transaction, recording instructions for recording a purchaser identification code in the database in association with each given transaction, transmitting instructions for transmitting a transaction report to an electronic address associated with the purchaser identification code, and recording instructions for recording a product or service identification in the database in association with each transaction. Furthermore, the computer program product may include determining instructions for determining the net cash receipts into the register as currency deposited into the register less currency dispensed from the cash register, and providing instructions for providing the net cash receipts for use in an accounting program.
In addition, the invention provides a system for managing transactions involving currency. The system comprises scanning means for optically scanning currency having a serial number as it is being deposited into a cash register, identifying means for identifying the serial number for each item of the scanned currency, recording means for recording the serial numbers in a database, dispensing means for dispensing currency from the cash register in response to an input command, and updating means for updating the database of currency serial numbers to reflect currency deposits into and withdrawals from the cash register. Preferably, the system will include one or more of the following: identifying means for identifying the denomination of each item of the scanned currency, associating means for associating the currency deposited and currency dispensed with a given transaction, recording means for recording a purchaser identification code in the database in association with each given transaction, transmitting means for transmitting a transaction report to an electronic address associated with the purchaser identification code, recording means for recording a product or service identification in the database in association with each transaction, determining means for determining the net cash receipts into the register as currency deposited into the register less currency dispensed from the cash register, and providing means for providing the net cash receipts for use in an accounting program.